The assessee received revenue on account of the contract entered into with ONGC for providing services of seismic survey to the data correction supervision for the purpose of hydrocarbon reservoir exploitation, possible leak point identification and core site selection from available 2D and 3D seismic data, core acquisition with USBL System, sample processing, prevention and transportation, laboratories analysis and interpretation and report.
Further recruitment of manpower is not the Supply of manpower, recruitment is altogether different from supply of manpower. On the basis of above information it can be assumed that only supply of manpower is covered under RCM and no reference regarding recruitment of manpower services is made for purposes of RCM.
As there is increase in the rate of service it has great impact in the transition from 12.36% to 14% to the provider service as well as recipient of service. Though, there are explicit provisions under Rule 4 of POT rules that if the Invoice has been raised or payment is received in respect of service provided or agreed to be provided before the change in the rate of service tax the old rate of service tax will be applicable, however, cases of service tax payable by recipient of service, Rule 7 of POT Rules applies which provides that if the payment of said bill is made after change in the effective rate of service, the service tax will be payable by new Rate of service tax.
All those who are gearing up for ISA Assessment Test (DISA), registrations for the Assessment Test to be held in June 2015 have started. Registrations for online applications started on 21st May 2015 at 10:00 AM and shall remain active till 4th June 2015 till 5:30 PM. Fees to be paid online is INR 1,100/-.
ACTION 7 – Prevent the Artificial Avoidance of PE Status Develop changes to the definition of PE to prevent the artificial avoidance of PE status in relation to BEPS, including through the use of commissionnaire arrangements and the specific activity exemptions. Work on these issues will also address related profit attribution issues.
India has adopted a dual GST system because of federal nature of our constitution where both centre and states will have the power to levy taxes on the sale of goods and services. GST is similar to VAT and can be termed as National level VAT on goods, with one difference, in GST not only goods but services are also included and rate of tax on both goods as well as services will be the same.
Notification No. 22/2015-Customs (ADD) Dated- 22nd May, 2015-Seeks to levy definitive anti-dumping duty on imports of USB Flash Drives’, originating in, or exported from, People’s Republic of China and Chinese Taipei for a period of five years.
NOTIFICATION NO. 21/2015-Customs,(ADD), Dated: May 22, 2015 Whereas in the matter of Cast Aluminium Alloy Wheels or Alloy Road Wheels used in Motor Vehicles, whether or not attached with their accessories, of a size in diameters ranging from 12 inches to 24 inches (hereinafter referred to as the subject goods), falling under Chapter heading 8708 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as Customs Tariff Act), originating in, or exported from the People’s Republic of China, Korea RP and Thailand
Whereas, in the matter of “Pentaerythritol” (hereinafter referred to as the subject goods), falling under Chapter 29 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act)
CA Manindar Kakarla Introduction: Finance Bill, 2015 has proposed to increase the service tax rate to 14% by amending Section 66B. The said bill has received President’s assent on 14/05/2015. The increased rate is going to be effective from 01.06.2015. As there is a change in rate of tax, the applicability of new service tax […]
